EUR/USD: 6/8 MM Level acted as resistance

EUR/USD: 6/8 MM Level acted as resistance

Image20171116125246001.png

There's a developing bullish impulse in wave [i]. Previously, we had a zigzag in wave 4, which means we could have another upward rally. If a pullback from 7/8 MM Level happens little later on, there'll be time for a bearish correction.

Image20171116125246002.png

6/8 MM Level acted as resistance, so wave (iii) has been ended. Currently, the price is declining in wave (iv). If a pullback from the 34 Moving Average happens during the day, bulls are likely going to deliver another upward impulse in wave (v) of [i].

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